Category: PwC

Pwc Report Finds STOs ‘Are Not Fundamentally Different From ICOs’

Pricewaterhouse Coopers (PWC) has published a report in collaboration with Crypto Valley seeking to provide “a strategic perspective” on the initial coin offering (ICO) and security token offering (STO) sectors. The report finds that security tokens “are not fundamentally different from ICOs,” estimating that their combined total raised almost $20 billion during 2018. Also Read: […]

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New Pwc Report on Crypto Insolvency Captures the ICO Chaos

Accounting firm Pwc’s Hong Kong branch recently released a crypto insolvency report guiding crypto business owners on what to do “when things start to go wrong.” spoke to the crypto head of Pwc’s Asia operations, part of the team who released the report, on how he views the current cryptocurrency landscape, the factors that […]

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The Daily: Security Startup Raises $30M, Crypto Used to Fight Plastic Pollution

The Daily: Security Startup Raises $30M, Crypto Used to Fight Plastic PollutionIn today’s edition of The Daily, we focus on an Israeli crypto security startup that has raised $30 million in funding from a number of notable companies. We also look at how tokens are being used to clean up the environment, as well as efforts by major auditing firms to service clients in the cryptocurrency […]

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Billion-Dollar Startups Flourishing in Switzerland’s ‘Crypto Valley’

Next Silicon Valley: Switzerland's Billion Dollar Cryptocurrency Startups FlourishThe top 50 cryptocurrency and blockchain-related companies in Switzerland’s version of Silicon Valley are now worth $44 billion combined, underscoring the steady growth of the Swiss crypto industry. Altogether, cryptocurrency firms employ about 3,000 people throughout the small country. Included among the top 50 are five “unicorns,” or startups with a market valuation of more […]

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The Daily: Bitcoin’s Low Volatility and High Liquidity, PwC Backs Stablecoin

Markets Update: Bitcoin Cash Prices Up Over 60% This WeekTo kick-start the new week, we bring you news of bitcoin hitting a record low — for volatility, not price. There’s also been an altcoin breakout ahead of an impending Coinbase listing, a new metric for ranking cryptocurrencies and an obligatory new stablecoin story. It’s all covered in Monday’s edition of The Daily. Also read: Rapper […]

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How Blockchain Is Reshaping External Audit: Crypto Developments by PwC, KPMG, EY and Deloitte

How blockchain is reshaping external audits.

The recent initiative of the world’s four largest auditing — Deloitte, Ernst & Young, KPMG and PwC — to join a pilot of 20 Taiwanese banks to test blockchain technology for fiscal audits, confirms how developments are expected in the work of external audit.

Despite the auditors have been sometimes criticized for their lack of capacities for catching issues before they blow up, an external audit is a fundamental part of the assurance environment for international groups, both private and public.

This can be defined as the process of conducting an objective examination of an organization’s accounts, books, documents and internal processes in order to determine whether it presents a ‘true and fair’ situation of financial performance and financial position. It is based on a set of predetermined guidelines — normally the International Financial Reporting Standards or generally accepted accounting principles — to verify the accuracy of companies’ financial statements.

So what is the linkage between an audit and blockchain? What could change in the short term and what might not?

What could change

Albeit regulated by numerous standards and practices, an external audit is often a heavy process that requires a team of professionals to spend a robust amount of time to review the massive number of transactions and accounts of the client’s books. In this scenario, blockchain technology could play a really disruptive role.

As defined by the CFO of International Federation of Accountants (IFAC), Russell Guthrie:

“New technologies, such as blockchain and artificial intelligence  are advancing the global profession, raising the bar and driving demand for new workforce skills and competencies.”

As blockchain has its foundation in the distributed ledger concept and cryptology — which promises transparency, immutability, security, auditability, high cost-efficiency and is ‘ever available’ — an immediate application of blockchain technology in the audit verifications is connected to external confirmation procedures.

External confirmations are a critical part of all the audit processes, as they give the audit team the ability to to check external sources of the information that are provided internally by the company. But what if the ledger of such an enterprise is in a decentralized, public blockchain?

In a scenario like that, the auditors would be able to obtain all the information related to the financial transactions of a company without the need to confirm them through an external confirmation procedure, hence saving time and resources.

An environment where all the ledgers would be easily accessible, cross-checks of transactions would be still possible. If, for example, Company A has a liability with Company B, the auditors or any stakeholders could easily verify whether that is correctly recorded, by cross-checking the respective public ledgers.

Ready-to-access information will also facilitate the review of bank details, where the external auditors examine all the information pertaining to a company and commercial banks, including bank accounts, loans, guarantees and signatory powers.

What will not change

As the scope of blockchain is wide and requires dedicated focus and time to research how best it can be used to build practical applications, the field of business estimation, and related audit activities may require more time to change and to be affected by blockchains. Examples of common accounting estimates are related to the definition of the fair value of an asset, revenue recognition and determination of accruals.

The process of determining an estimation includes elements of uncertainties that are often mitigated by the knowledge of the business, the use of market comparisons and historical data.

In a scenario where blockchain would be widely adopted, and where the transactions are accessible and transparent, the necessity of producing accounting estimate — and the related guesswork from the management of the company and external auditor — will likely decrease.

How the big players are reacting to blockchain innovations

The international audit market is dominated by the so called “Big Four”: PricewaterhouseCoopers (PwC), KPMG, Ernst & Young (EY) and Deloitte, whose revenues, thanks to the economic reprise, have been steadily increasing during the past few years.



In this dynamic environment, the Big Four are launching specific initiatives that are aimed to increase the efficiency of audit activities and develop assurance tools.

More specifically, in May 2016, Deloitte’s first blockchain lab was created in Dublin, in order to work with international organizations looking to roll out blockchain-enabled solutions across different countries. Deloitte has also recently found that blockchain technology will become a critical asset to the retail and consumer-packaged goods industries.

Ernst & Young (EY) became the first advisory firm to accept Bitcoin for its services. EY Switzerland clients have had the option to settle their invoices for auditing and advisory services using Bitcoin since the beginning of 2017. The same Swiss branch has also announced formal support and membership of the Bitcoin Association of Switzerland (BAS).

In November 2016, PwC launched Vulcan Digital Asset Services to enable digital assets to be used for everyday banking, commerce and other personal currency and asset-related services. The company has also acquired a minority stake ‎in the Chinese startup VeChain. This company uses blockchain technology to protect client brands and products through the creation of a transparent supply chain that allows product verification and traceability.

Pierre-Edouard Wahl, head of blockchain at PwC Switzerland, shared his company’s activities related to blockchain with Cointelegraph:

“We have a pretty broad service offering: we work with startups, we work with established companies, we offer — I would not say full services yet, because there would still a lack of clarity, but we want to offer first inspections to ensure that things have been done correctly and hopefully that will enable us, if the regulators allow us to do that, to interfere. For PWC Switzerland, where we have big clients who offer cryptocurrency to their clients, we need to find a way to audit that. But we have ways to make sure that funds are in the control of the right people. We also work on the infrastructure level, we work with a lot of ICOs globally. We offer legal tax services, insuring services, engineering services, some kind of review for code — I do not like the word audit there because it makes that sound like it is bullet-proof, which is just reviewed by another pairwise.”

In September 2016, KPMG launched its Digital Ledger Services — a suite of services designed to help financial services companies realize the potential of blockchain. And in November 2017, KPMG signed on as a corporate member of the Wall Street Blockchain Alliance (WSBA).

The Future of auditing

While blockchains could foster the efficacy of the audit activities in certain key areas and reduce the need of performing existing audit procedures, there is still the need for the external auditors to use their professional judgement in many areas of the financial statement, especially when determining accounting estimates.

As Marcel Stalder, CEO of EY Switzerland, confirmed:

“It is important to us that everybody gets on board and prepares themselves for the revolution set to take place in the business world through blockchains.”

As a result, further developments are expected, with new procedures to address the risks associated to the blockchain environment. These developments will likely reshape the work of external audit, where review of public ledgers and IT controls will gain a more crucial role, in assuring that financial statements present a ‘true and fair’ situation of companies’ financial performances.

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Altcoins Round-Up: Bitgo Adds ZEC, Wirex Supports XRP, PwC to Audit Tezos

Altcoins Round-Up: Bitgo Adds ZEC, Wirex Supports XRP, PwC to Audit TezosIn recent news pertaining to altcoins, Bitgo has announced the addition of Zcash to the roster of cryptocurrencies supported by the cryptocurrency custody firm; Wirex has enabled XRP support for its cryptocurrency debit card; and Tezos has commissioned PricewaterhouseCoopers (PwC) to audit the Tezos foundation’s finances and operations. Also Read: Bitmain Reveals the Total Hashrate of […]

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World’s Top Four Auditors Join Taiwan-Led Trial for Blockchain Fiscal Audit System

The world’s four largest auditing firms have joined 20 Taiwanese banks to pilot blockchain technology for fiscal audits.

The world’s four largest auditing firms — Deloitte, Ernst & Young, KPMG and PwC —have joined 20 Taiwanese banks to pilot blockchain technology for fiscal audits, local news outlet CTEE reports July 19.

The “big four” will join a consortium of major Taiwanese banks to test a blockchain solution for auditing companies’ interim financial reports, focused on streamlining so-called ‘external confirmation’ processes. These currently require an auditor to manually obtain and verify audit evidence of companies’ transactions with third parties.

The pilot — which has been developed by the banking consortium alongside Taiwan’s Financial Information Service Co. (FISC) — harnesses the tamper-proof, distributed, and immutable structure of a blockchain system to secure and automate the confirmation process, potentially allowing auditors to assess the fiscal health of firms in record time.

The banks will act as validators to migrate companies’ transaction data onto a blockchain that will subsequently be accessible by the participating audit firms. The FISC anticipates that the new system will accelerate confirmation times from an average of two weeks to “within a day.”

Expansion of the trial system is planned for more than 1,400 publicly-listed companies in China starting next year.

This spring, Cointelegraph reported on a major Deloitte study that argued that businesses who don’t consider integrating blockchain systems are “at risk of falling behind,” predicting that it would become “a standard operational technology across the financial, manufacturing and consumer industries” in the future.

For its part, PwC has also kept its pulse on the crypto and blockchain space. The company released a joint report with the Swiss Crypto Valley Association just two weeks ago indicating that Initial Coin Offerings (ICOs) are thriving in 2018, with their volume thus far already twice as high as it was during the entirety of 2017.

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Daniel Diemers From PwC Strategy& Switzerland: Adoption of New Technologies Requires More Education

Interview with Dr. Daniel Diemers, blockchain expert at PwC’s Strategy&, about the Swiss crypto-franc and how blockchain can keep up with the government.

Blockchain technology is predicted to have a great future in Switzerland. What does this mean for the labor market, what does the Swiss government think about this technology and what does blockchain need in order to be adopted by the people? Cointelegraph discussed these questions with expert Dr. Daniel Diemers at BlockShow in Berlin.

Daniel Diemers worked as an entrepreneur for several years in the field of internet-based early warning systems. He has been a partner at PwC Strategy& since 2005, where he advises banks and regulators in Europe and the Middle East on digitalization, fintech and blockchain. Daniel Diemers is also a co-founder and board member of the Swiss Finance + Technology Association (Swiss Fintech) and a fintech investor himself.

About PwC and blockchain

Cointelegraph: As early as mid-May, there were reports that PwC’s Strategy& was working on blockchain in the logistics sphere. What does PwC’s work with this new technology look like?

Daniel Diemers: We have our own global blockchain team. For example, I’m head of the blockchain department in Europe and the Middle East. We have many employees who are well familiar with the subject and we are not only working on the use of blockchain in logistics but are also on implementing blockchain in the banking and agricultural sectors. I am a strategist, and I have to clarify various questions regarding blockchain: coding, protocol, cybersecurity, taxes, accounting and how blockchain can be used in this sphere.

About using blockchain and its impact on the job market

CT: In your opinion, what fields need blockchain technology the most?

DD: That’s a very good question. We are discussing banking, insurance and ICOs — as well as financial services — a lot. I see a particularly huge need for this technology right here. But if you look at how the blockchain will develop and where it will be used, according to statistics, you will see a lot of services and applications outside of the financial world. For example, the energy sector, agriculture, healthcare, but also logistics [and the] Internet of Things (IoT).

We expect that the blockchain will be used in 80 percent of the industry. Administration, voting, banking, insurance — these are the first steps.

CT: Many politicians and heads of major financial institutions are critical of cryptocurrencies, but have positive things to say about blockchain technology. Commerzbank reportedly already has a ”DLT Lab.“ What do you think is the reason for that?

DD: That was the case last year. I believe that their opinions are slowly changing. Now there are more and more banks that are also dealing with cryptocurrencies, having their first projects. There are also banks, now, that accept cryptocurrencies as a means of payment. I am sure we are in a very exciting process right now. The entire financial services industry, banks and insurance companies will be dealing with cryptocurrencies.

CT: Are you not worried that blockchain might replace many jobs in the financial sphere?

DD: I don’t understand this fear, yet. Mostly we are discussing artificial intelligence and robotics. Blockchain can have a similar impact, of course, because it can actually increase productivity in an efficient way. Some things I had to do before — such as bringing different data systems together — I may not have to do with the help of blockchain anymore. But I don’t feel like blockchain is a so-called job killer. But if we look at this technology in connection with artificial intelligence then yes, then a lot of jobs could disappear.

CT:  Are you saying that blockchain and artificial intelligence could replace you?

DD: I’d do some reflecting here. I don’t want to think that these two technologies and robots can replace me — and I don’t recommend thinking that way. I think the next five to 10 years will be very exciting and we’re going to have to expect many changes. You don’t have to be afraid of such changes — and when people are a little afraid, it’s just a human reaction to new things. Like, I hear about cryptocurrencies for the first time, I don’t like them, so Bitcoin is not good. But soon that will change. Now, the next generation is coming up. Young people growing up with smartphones. They are like, my bank is my smartphone. They don’t even get to see any plastic cards — they’re shopping online. And they think cryptocurrencies are normal or even cool.

About “Crypto Valley” and Swiss e-franc

CT: How popular is crypto in Switzerland? When will the Swiss people be using cryptocurrencies as a means of payment?

DD: Crypto Valley in Switzerland has not existed for long — it’s less than two years [old], but it has grown enormously. Two or three years ago, there were perhaps 10-15 companies, while today, there are around 300-400 companies that already have a branch in the Swiss Crypto Valley — and all of them are involved in the crypto sphere: ICOs, blockchain startups. The Swiss people are also aware of these developments because there are a lot of media reports about them, people read and talk about them. The Swiss government is also trying hard to understand it.

The Swiss Federal Council has established a blockchain task force to promote its adoption in the country. I was also allowed to have a seat there, which was so exciting because we were 35-40 experts from all over Switzerland, from different fields and with different experiences. Together we pondered questions about what our citizens are interested in, what is positive and negative, what the state yet has to do and, yes, whether the state has to do anything at all.

I believe that in most European countries, compared to Switzerland, the general population has not yet dealt with crypto and blockchain. If we just randomly select 10 people on the streets of Berlin and ask them about blockchain, ICOs and cryptocurrencies, we’d find that they are not very familiar with the topic. Adoption of new technologies requires more education.

CT: Switzerland has plans to launch its own state cryptocurrency. Do you think this is a good idea?

DD: Correction: that has not yet been decided. We have a very decentralized and democratic governance in Switzerland, and all new ideas will be welcomed and discussed.

Right now, we are discussing whether we want a national cryptocurrency — e-franc or crypto-franc — in Parliament. There are also different people from the crypto community who deal with this matter and give us [the] first ideas — and we discuss it all together. I think that’s very good about Switzerland.

I don’t think that’s a bad idea. When I’m travelling, I’m using local currency in other countries. In some cities, I’m using Bitcoin and other cryptocurrencies. Why, then, shouldn’t I use a cryptocurrency, perhaps issued by the Swiss government, which is legally supported by the government and the Swiss National Bank?

CT: And what are your thoughts on the new FINMA ICO regulations? Do they actually provide more clarity?

DD: Yes, absolutely. The government, investors and even entrepreneurs who want to launch ICOs in our country need some regulatory certainty.

Nobody wants to invest money in an ICO, lose it all after six months, and the court not knowing how to deal with scams like these under existing laws.

A healthy regulation is necessary, and Swiss investors consider these FINMA rules to be very important. This is different in Asia — some countries do not want to work with ICOs, so they simply ban them.

About three things that blockchain needs

CT: You mentioned that Swiss media reports are positive when it comes to blockchain and cryptocurrencies. In your opinion, do people tend to overestimate their knowledge of the opportunities and risks of cryptocurrencies as an investment due to intensive reporting?

DD: Yes, I think so. First of all, you need quality journalism and very good journalists who go in-depth and who do not randomly throw in superficial topics. Secondly, there is also a need for good, reasonable regulation that offers certain protective measures and educates people about the risks. You shouldn’t just say that this and that is bad and speculative, but also give advice on how to invest in which currencies [and] in the best way possible. And lastly, there is a need for a lot more information and education: children should have to learn what blockchain is and about its advantages and disadvantages at school.

There is a lack of educational opportunities for adults and there are only few people who can really teach this topic. I believe there is a great challenge ahead of us, and all teachers have to think of good ways to explain what blockchain and cryptocurrencies are and how to deal with them reasonably.

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ConSensys’ Ajit Tripathi: ‘Rebellious Teenager’ Crypto is Maturing

Ajit Tripathi of ConsenSys tells Cointelegraph about the venture production studio’s goal to “unleash this entrepreneurial spirit” of the blockchain community.

This interview has been edited and condensed.

Cointelegraph had the opportunity to speak to ConsenSys’ Ajit Tripathi at BlockShow Europe 2018 about his experience leaving Wall Street for the crypto world, what new ConsenSys projects he’s most excited about, and why crypto regulation changes from country to country.

Molly Jane: Could you tell us a little bit more about what Consensys does and what your role is there?

Ajit Tripathi: ConsenSys is a venture production studio based in Brooklyn, and now we have offices in London, in about 30 countries, including London, Paris, South Africa, Australia, and Singapore — we’re building teams all over the world to essentially develop blockchain-based solutions. We create a lot of startups, we’re technology builders, and we are creating tools, components, infrastructure and solutions for a decentralized ecosystem.

If I had to put this in one line, we create technology for insider marketplaces.

What that means is, today, the whole world is dominated by centralized platforms, like banks or the likes of Facebook — they all dominate either data or assets and become rent-seeking participants in the economy.

We want to shift that to a peer-to-peer paradigm, where the individual is empowered. We think technology, especially blockchain technology, has a big role to play in creating an ecosystem where we do not depend on these dominant intermediaries in every single market for information and assets.

My focus is on decentralized exchanges, regulation and policy. Decentralized exchanges are peer-to-peer marketplaces for exchanging digital and digitized assets. And what that means is that, historically, we’ve had centralized exchanges, for the most part, right? Like the NASDAQ, or NYSE, and so on and so forth, that are very efficient in terms of providing liquidity but then are not so great for low-liquidity assets.

I come from the enterprise space. I worked for Goldman Sachs, Barclays, UBS, PwC — some of the most established institutions and the kind of intermediaries I talked about — and I sort of bring the whole power, and this innovation in the crypto ecosystem, to institutions and legacy. My role is to help some of these institutions understand what’s going on in crypto and how they can leverage this technology to participate in this decentralization revolution, so to speak.

MJ: These past few months have seen what some would call an “exodus” of Wall Street players leaving the traditional financial sphere for the crypto sector. As someone that has gone down the path, can you speak to the reasons that brought you to ConsenSys?

AT: I can’t speak for everybody’s motivations, right? On the one hand, some people are excited about the growth of the crypto ecosystem, and that’s perfectly honorable and great. And some people are excited by the sheer amount of wealth that’s flowing into this ecosystem, and that’s perfectly honorable as well.

I’m an engineer, I came from technology and did some work in consulting and regulation. In the process, I met Joe [Lubin]. Joe is the CEO of ConsenSys, and Joe has something about him, he is an inspirational figure, he has this ability to excite people about this future.

Like this decentralized internet, and then this decentralized insider-marketplace idea that we are building, in so many, different sectors of the global economy. This whole thing about being able to build something, something that’s futuristic. A lot of large institutions want to innovate, or companies want to innovate, but they have the innovator’s dilemma, they’re tied to what exists today, and they are scared of disrupting their own businesses.

With ConsenSys ,there is no such thing, right? ConsenSys exist to create new things, ConsenSys does a lot of experimentation, ConsenSys is purely focused on innovation, and that’s what made me really excited about ConsenSys at this time, because if you have an idea and if you have a team — and you can actually make things happen — then ConsenSys is a great place for people to go. And we are hiring right now.

MJ: What projects is ConsenSys currently working on that you’re the most excited about? Are any close to mass adoption?

AT: It’d be very, very difficult for me not to be excited about some of our projects. Blockchain is an early-stage technology, right? But, at the same time, in the enterprise space, we have seen a lot of progress. Truffle is the most popular development tool in all of the Ethereum (ETH) development community, then Metamask has had 1 million downloads — it’s a wallet. Infura can support up to 12 billion transactions a day, which is for read-only transactions, and takes a lot off the load of the public Ethereum blockchain.

For a wide range of digital assets that need this peer-to-peer discovery for exchanging, we are working on this next-generation decentralized exchange platforms. Trustology is our platform for an institutional great crypto custody that will go live at the end of this year. I mean, we have 40+ projects: we have a “blockchain for social impact” project, we have a venture capital arm now, we are creating a lot of ventures in partnership with enterprise customers.

In some sense, our role is to unleash this entrepreneurial spirit — or energy — of the whole blockchain community, whether it’s the enterprise community or the crypto community, and these are all starting to converge.

MJ: I’ve noticed on your Twitter that you had been very vocal against the implementation of the General Data Protection Regulation (GDPR) privacy bill. Can you explain your position?

AT: Yeah, I have strong views on that. So GDPR is well-intentioned, right? I mean, it was partly that our current privacy regime is outdated — that previous regime needs an update.

Because, now, we have Facebook, and we have Google, and you have lots of these data intermediaries — it’s central monopolies that are taking everybody’s data and selling ads back to them. And as we found out from Edward Snowden, they might be giving their data off to the government for surveillance.

But if you look at how the regulation has been written, then it has some significant flaws. Regulation needs a little bit of adaptation to the technology that’s emerging, because privacy isn’t the only need, right? Europe needs to remain competitive against other jurisdictions, we need to create great technology, we need to make sure that our economies are competitive against China, and India, and the U.S., and so on, and so forth. We need a technology ecosystem in this continent that’s competitive. And GDPR runs the risk of being too restrictive.

For example, we have a right to be forgotten, now what does that mean in practice? I did a lot of consulting for banks, and at PwC, and now if you try to actually delete a customer’s data from the bank because of the GDPR, there are 10 other regulatory requirements that prevent you from doing that. So, in theory, it sounds fantastic but — in practice — implementing GDPR is really hard now, and it can actually make people very concerned.

Parity, which has a KYC utility PICOPS — which is very popular with the Initial Coin Offerings (ICO) — had to stop its service because now they are really concerned about GDPR. [From] now on, you definitely want to have KYC and AML regulations, ICOs comply with all of that. And now suddenly we have to stop a very useful service called PICOPS because of the GDPR. These guys don’t want to be in legal trouble because they are offering a great service, right?

We are working on a project with the European Commission. It’s called the EU Blockchain Observatory, and we invite all the blockchain ecosystem participants to engage in that process. At some point, policymakers and regulators will adapt GDPR to this new and exciting technology that’s coming up. But until then, there is a lot of confusion and and uncertainty in the marketplace.

MJ: Could you speak more about the general regulatory uncertainty in the crypto space, worldwide?

AT: Regulatory approaches around the world are rooted in their culture, right? For example, when we talked to kids at the dinner table in the U.S. when they’re not behaving, we tell them to go to their rooms. In China, in India, we might actually hit them.

So crypto is like this kid growing up, and regulators are like these parents who behave in ways that are attuned to their culture.

Now some of these are knee-jerk responses from regulators around the world because, for example, in China there was a Communist Party Congress just before Bitcoin (BTC) was banned. The government didn’t want social instability, and there was a very bullish market that could have caused a lot of problems for individual investors. A lot of these things that regulators are doing are well-intentioned, but part of the challenge is that the crypto community hasn’t really engaged with policymakers.

We haven’t tried or invested in educating, so — initially — Bitcoin came out of a bit of a revolution. We were rebelling, the crypto community was rebelling against the “Chancellor Bailout,” and Occupy Wall Street was the theme.

But now that kid — the rebellious teenager — has grown up a little bit. It’s time for us as technologists to engage with the other processes of the society like regulation and policy, and work collaboratively, help regulators understand what’s going on, help governments understand what’s going on, educate ourselves on why the rules are the way they are, why the securities laws are set up the way they are. And then, maybe, find this ground where the technology can develop and create the fairer world, but, at the same time, without causing some of the issues that might occur if we are not responsible in using this technology.

MJ: Thank you so much for speaking with us and attending BlockShow!

AT: Thank you so much. It was my pleasure.

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